Bank PKO BP to enter joint venture for mobile payments
December 23, 2013
Bank PKO BP signed an investment deal with its partners in mobile payments project and filed a motion for registration of the company that will run the mobile payment system, PKO BP said in a press statement.
The deal will allow PKO BP to seek regulatory approval for the payment system from NBP and the anti-monopoly watchdog UOKiK, the bank noted.
After UOKiK consent is granted, PKO BP will be joined by its partners, Alior Bank, Bank Millennium, BZ WBK, ING BSK and mBank, with each partner to hold 16.67% stake in the joint venture, the bank said.
After 18 months from company registration, a portion of operations will be taken over by clearing house KIO, which is another partner in the project.